Principles of Economics. by William Boyes, Michael Melvin

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9781111970437: Principles of Economics. by William Boyes, Michael Melvin
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Discover the latest thinking of today's economists on important microeconomic and macroeconomic phenomena while developing with a solid global understanding of basic economic principles with Boyes/Melvin's popular PRINCIPLES OF ECONOMICS, 9E, International Edition. A reader-friendly writing style, carefully integrated learning features, and emphasis on global economics clearly illustrate the connections between key economic principles and today's actual business practices. This edition's updates, timely revisions and memorable examples ensure readers are familiar with the latest economic statistics and developments. Revised microeconomics materials emphasize the fundamentals and practical application of current events, while new macroeconomics coverage highlights the recent financial crisis and its global implications. Readers find the understanding of economic concepts and applications they need for career and business success throughout the world.

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About the Author:

Dr. William Boyes is professor of economics at Arizona State University. He received his Ph.D. in economics from the Claremont Graduate School in 1974. Before joining the Arizona State faculty, he was the Distinguished Visiting Professor of Business at Weber State University; visiting professor at Tsinghua University, Beijing, China and the University of London, London, England, and lectured at ITAM in Mexico City; and was the dean of the College of Business at Cal Poly, San Luis Obispo. Dr. Boyes has also served as chairman of the Economics Department at ASU and has been an economist with Security Pacific National Bank (now Bank of America). He has been a consultant to the White House, the Commerce Department, the Federal Trade Commission, and several private firms. He is the director of the office of economic education at ASU and a member of the Pacific Research Institute's Academic Advisory Board. Dr. Boyes has received many teaching awards, including the Golden Key National Honor Society Outstanding Professor Award at ASU in 1988, the Outstanding Teacher in the MBA Program Award at ASU in 1994, the Outstanding Teacher in the College of Business Award at ASU in 1995, Huizingh Outstanding Honors Professor in 2007, and Outstanding MBA Professor in 2008. Michael Melvin is currently Head of Currency Research at Barclays Global Investors. He also retains affiliations at the Arizona State University Department of Economics and the Haas School of Business at the University of California, Berkeley. Dr. Melvin received his Ph.D. in economics from UCLA in 1980. He has served as a visiting scholar at the Federal Reserve Board and the International Monetary Fund, was a Fulbright Professor at the University of Frankfurt, and has been a visiting professor at UCLA, Northwestern University, U.C. San Diego, and the University of Hawaii. His field of specialization is International Finance, and he is the coeditor of the Journal of International Money and Finance.

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Part I: INTRODUCTION TO THE PRICE SYSTEM. 1. Economics: The World Around You. Appendix: working with Graphs. 2. Choice, Opportunity Costs, and Specialization. 3. Markets, Demand and Supply, and the Price System. 4. The Market System and the Private and Public Sectors. Part II: MACROECONOMIC BASICS. 5. National Income Accounting. 6. An Introduction to the Foreign Exchange market and the Balance of Payments. 7. Unemployment and Inflation. 8. Macroeconomic Equilibrium: Aggregate Demand and Supply. 9. Aggregate Expenditures. Appendix: An Algebraic Model of Aggregate Expenditures. 10. Income and Expenditures Equilibrium. Appendix: An Algebraic Model of Income and Expenditures Equilibrium. Part III: MACROECONOMIC POLICY. 11. Fiscal Policy. Appendix: An Algebraic Examination of the Balanced-Budget Change in Fiscal Policy. 12. Money and Banking. 13. Monetary Policy. 14. Macroeconomic Policy: Tradeoffs, Expectations, Credibility, and Sources of Business Cycles. 15. Macroeconomic Viewpoints: New Keynesian, Monetarist, and New Classical. 16. Economic Growth. 17. Development Economies. 18. Globalization. Part IV: PRODUCT MARKET BASICS. 19. Elasticity: Demand and Supply. Appendix: Calculating Elasticity. 20. Consumer Choice. Appendix: Indifference Analysis. 21. Supply: The Costs of Doing Business. Appendix: The Mechanics of Going from Production to Costs. Part V: PRODUCT MARKETS. 22. Profit Maximization. 23. Perfect Competition. 24. Monopoly. 25. Monopolistic Competition and Oligopoly. 26. Antitrust and Regulation. 27. Government and Market Failure. Part VI: RESOURCE MARKETS. 28. Resource Markets. 29. The Labor Market. 30. Capital Markets. 31. The Land Market and Natural Resources. Part VII: CURRENT ISSUES INVOLVING THE PUBLIC SECTOR AND THE MARKET ECONOMY. 32. Aging, Social Security, and Health Care. 33. Income Distribution, Poverty, and Government Policy. Part VIII: ISSUES IN INTERNATIONAL TRADE AND FINANCE. 34. World Trade Equilibrium. 35. International Trade Restrictions. 36. Exchange Rates and Financial Links Between Countries.

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